Marketing Communication And Digital Marketing For Westpac Bank

Using your marketing campaign from Task 1.2. Evaluate any three (3) internal and any three (3) external stakeholders who should be part of this campaign.

Discuss two (2) methods to enhance stakeholder engagement through digital marketing.

Suggest ways to ensure ethically, socially and culturally appropriate behaviour are maintained during stakeholder engagement? Discuss those practices through three (3) main business stakeholders.

Think about what it takes for someone to be a ‘successful’ digital marketer. Identify, evaluate and justify five (5) skills and abilities required to achieve this.

Discuss at least five (5) skills and abilities for a business organisation to be successful in digital marketing.

Your organisation has decided to transition from traditional marketing to digital marketing. Recommend two (2) training programs for staff to learn about how to increase employee productivity in relation to digital marketing. You must justify your response.

The different channels and tools used in marketing communication

The modern companies use diverse channels and tools in order to develop proper marketing communication. The different channels which are used for the purpose of marketing communication are focussed on methods of communicating particular messages to a desired market. The tools that are mainly related to marketing communication include, direct marketing, advertising, promotion and communication based on sponsorship. The 4 Ps of marketing are also considered to be an important of marketing communications that are done by the organizations (Baltes, 2015).

The two major marketing communication approaches which can be used by Westpac include,

• Social media channels –Various social media based channels that have been implemented by Westpac are, Facebook, Twitter, LinkedIn. The channels are helpful for the proper interaction as well as listening related process which is a significant part of the communication based on marketing in Westpac. The engagement of customers with the work process is helped by the usage of different social media channels (Kannan, 2017).
• Listening to feedback provided by customers – High levels of importance are provided to the feedback that is offered by customers. The feedback is the most significant part of the entire marketing communication related process that has been implemented by the organizations (Alalwan et al., 2017).

The integrated marketing campaign or IMC that has been designed by Westpac Bank can be named as “Customer Delight”. The marketing campaign can be formed by Westpac is related to the levels of awareness based on the brand which can be enhanced on a successful manner. The proper development of a brand based experience is significant for enhancing the levels of revenues of an organization in the industry. Four important stages which are a part of marketing campaign of Westpac mainly include the following,

• Identifying different communication related to marketing – The proper formation of marketing based communications which can be implemented by Westpac Banking Corporation are social media based channels and advertising based activities. The channels based on social media have been used by the organization already. The development of a dedicated team related to social media activities are able to increase efficiency levels. Advertising can be used on the other hand for providing different messages to consumers (Grieco, Iasevoli & Michelini, 2017).
• Formation of a communications plan related to marketing – The communication process in marketing is developed for the purpose of fulfilling a mission or goal which can be developed by Westpac.
• Understanding the process of consumer decision-making – The company has to consider the decisions which are taken by customers. The different issues which are faced by customers have to be considered within the new communications plan (Taiminen & Karjaluoto, 2015).
• Implementing the plan based on marketing communication – The communications mix which has been developed as a part of integrated marketing campaign the is related to bonds that can be developed by Westpac with the customers The engagement levels of customers with Westpac is also an important part of the process (Ryan, 2016).

The most significant target market of the Westpac Banking Corporation is related to the business related group of customers. The high profile customers or the high advocates of the organization are high in comparison to other organizations that are a part of the same sector. A major requirement which is based on effective digital presence of Westpac Bank is high for the purpose of increasing engagement levels of customers. This is able to play a important part in proper maintenance of the position of Westpac Bank in an industry (Huotari et al., 2015).

Figure 1 – Digital presence of Westpac

Source – (Westpac.com.au., 2019) 

The traditional method related to marketing of different brands is not helpful in increasing the revenue levels of modern companies. Westpac Banking Corporation has to implement various channels that are related to digital marketing with the aim of promoting the services and products (Spiller & Tuten, 2015).

• Email marketing – The method related to email marketing is related to the proper generation of the leads and implementing different marketing based strategies. The company will be able to communicate various services which are offered to consumers by the usage of the email communication in a proper manner (Rani & Rani, 2017).
• Display advertising – The method based on display advertising will be used for the purpose of communicating with customers. Westpac will aim at using the channel based on different tools that include, blogs, banners and different interactive ads.
• Social media based marketing – The method that is related to social media based marketing can be implemented by Westpac in an active way for communicating with consumers. The interaction levels of customers with management of Westpac can be made easier with suitable use of social media (Carvalhosa et al., 2017).

Figure 2 – Digital marketing

Source - (Westpac.com.au., 2019)

The campaign that is related to integrated marketing has been formed by a company can be implemented by Westpac Banking Corporation by using the different marketing channels. The method of display advertising can be used for communicating with customers by developing different interactive blogs. The social media related marketing activities can play a major role development of proper communication and levels of interaction with customers. Email marketing is considered to be a process that is effective for developing communications with customers of Westpac. Social media will be able to help the company in order to grow the presence of the company (Levy & Gvili, 2015).

The integrated marketing campaign by Westpac Bank

Figure 3 – Integrated marketing campaign

Source - (Westpac.com.au., 2019)

Integrated marketing campaign or IMC that is developed by Westpac has a major influence on the shareholders who are related to the organizational operations. The different stakeholders who are a part of the company include, internal stakeholders and external stakeholders. The three most important internal stakeholders of the company are, managers, employees and owners (Watson IV et al., 2018). On the other hand, external stakeholders are, the creditors, customers and the government. The operations of Westpac Banking Corporation are affected by prices of services which are offered to the customers. The stakeholders will be affected in an adverse manner by the marketing based campaign that will be designed by the organization (Vernuccio & Ceccotti, 2015). The human resources or employees of the organization are able to play a key role in methods that are used for development of services in a proper way. The manager can affect proper implementation of marketing based campaign by an organization for increasing levels of revenue. The proper implementation of different marketing based campaigns is related to the development of proper revenues as well. External stakeholders are on the other hand attracted by the ways by which the different marketing campaigns are developed by the organization. The services and products that are thereby developed by the organization have a major influence on the development of proper promotional services (Grönroos, 2017).

The levels of engagement of the employees is the most important part of the ways by which trust can be increased between the organization and the stakeholders. Relationships of employees with stakeholders are enhanced with the help of loyal customers who are a part of the organization. Westpac also aims at using the various processes for the purpose of engaging customers in processes of the organization (Stephen, 2016). Social media is an important tool which is implemented by the company for interacting and further attracting the stakeholders as well. The two main processes which can be implemented by companies for increasing stakeholder engagement include,

• Identification of key stakeholders – The audience of different marketing related activities of the company are recognized by the company for communicating with the implementation of social media in a proper manner. The social media analytics based process is implemented for the purpose of gathering information related to the stakeholders. Support can be effectively provided to the company with the help of proper operations in the industry (Yuki, 2015).
• Tailoring content which is provided to stakeholder groups – The content which is offered to different groups of stakeholders. The marketing related campaigns are able to affect the customer centric based nature of the organization. The campaigns based on marketing of the organization is helpful in communicating with stakeholders in an effective way. The content that is offered to the customers is affected by the communication based process. The levels of interest of target audience is enhanced by usage of proper content which is developed by an organization in a proper manner (Plume, Dwivedi & Slade, 2016).

The main stakeholders of the company who are considered for developing proper levels of customer engagement in the organizations are, customers, employees and the government of countries. The methods are highly innovative in nature and can affect engagement of customers in a positive manner. The process related to communication that has been applied by the company has a major impact on proper stakeholder management. The ethical behaviour and conditions that have been developed in the by the employees have an impact on engagement of different stakeholders (Keegan & Rowley, 2017). The companies have to maintain the social, cultural and ethical behaviour for using social media properly in order to communicate with different stakeholders. Social media can provide effective benefits to Westpac for communicating with employees and customers. The different initiatives which are implemented by the organization are related to proper employee engagement with the help of various communication related tools (Taylor, Reilly & Wren, 2018). The effective growth of different technologies is related to proper usage of smartphones to reach employees within a short period of time. Short messages are communicated to stakeholders with effective usage of stakeholder engagement. Ethical values have to be examined by Westpac for communicating with stakeholders effectively (Jackson & Ahuja, 2016).

The importance of digital marketing for Westpac Bank

Digital marketers can be considered to be an important part of the company for the purpose of using the skills and abilities for using digital channels in an effective way. The social and digital channels can operate and interact for development of proper synergies within the organization. Major skills which are required to be extended by digital marketers include,

• Data analysis – Data can play a major part in development of proper digital marketing related programs by the organizations for targeting customers. Digital marketers can play a key role in taking into consideration the disruption levels that are caused by the modern technologies (Taylor, Reilly & Wren, 2018).
• Paid level advertising on the social media – The different advertisements which are designed by Westpac on the social media are related to increasing the levels of reach of stakeholders of the company.
• SEO and SEM – The method related to optimisation of search engines is a major part of different digital marketing related activities which are performed by organizations. Digital strategy which is developed by a company is influenced by different processes which are based on search engine optimisation and search engine marketing. The use of data and content in an effective manner is a main role of operations which are conducted by Westpac Banking Corporation (Yuki, 2015).
• Content marketing – Content can be considered to an important part of different digital marketing activities that are performed by the companies in an industry. The development of proper content can affect the engagement of customers of the bank. The organization is able to face major challenges based on formation of proper content which can be offered to the customers (Vernuccio & Ceccotti, 2015).
• Understanding design related thinking and planning – The design thinking based process can be considered as an important part of approaching of the issues which are faced by the company. The complex and large scale based issues that are faced by the company will be solved effectively with implementation of proper design thinking related process.
• Implementing new technologies – The enhancement of proper technological environment is able to act like a driving force that can influence different activities that are related digital marketing of the companies (Keegan & Rowley, 2017).
• Being persuasive – The capabilities based in persuasion of digital marketers is a major part of skills that are developed by employees. Proper combination of different logical skills with inventive problem solving based process is able to lead to the development of different innovation based campaigns. The operations of business organization will be driven by proper levels of urging (Levy & Gvili, 2015).

The development of effective levels of skills are considered to be important for digital marketing. Five important skills of the organization important for digital marketing are as follows,

• Content marketing – Proper growth of content marketing is considered to be a main process that is used for engaging customers in the organization. This will help in attracting the customers towards the operations.
• Mobile marketing – The effective usage of mobile marketing is an important part of digital marketing related skills of companies. The companies can thereby provide the messages to huge number of audiences by proper implementation of mobile marketing (Carvalhosa et al., 2017).
• Social media based marketing – The method related social media is related to usage of various platforms including, Snapchat, Instagram and Facebook which is helpful for reaching wide number of people.
• Search engine marketing – The search engines of organizations are used for the purpose of updating the algorithms so that Google can advertise about the services and products (Spiller & Tuten, 2015).
• Video production – The formation of effective videos is a significant part of different marketing related efforts which are made by companies. Formation of the proper videos are a part of the digital marketing.

The two important training based plans that can be developed and applied by Westpac for increasing its presence on the digital platforms are as follows,

• Training related to the technical skills that will be implemented by the company in order to manage different services which are offered by Westpac Banking Corporation through different websites of the company.
• Another major training program that can be implemented by the organization is related to improvement of various soft skills that are important for proper enhancement of products which are provided to the customers.

References 

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Westpac.com.au. (2019). Westpac - Personal, Business and Corporate Banking. Retrieved from https://www.westpac.com.au/

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